ECB Weighs Ethereum & Solana Public Chains for Digital Euro
The ECB is evaluating public blockchain platforms Ethereum and Solana to issue a digital euro, signaling a shift from private CBDC models. Running the digital euro on open chains aims to boost transparency, reduce reliance on US dollar-pegged stablecoins, and strengthen EU financial sovereignty. ECB executive board member Piero Cipollone highlighted that US-backed tokens make up 98% of the stablecoin market, underscoring risks of current stablecoin dominance. No final decision has been made, but opting for Ethereum or Solana would mark a key technical milestone and could reshape crypto market dynamics.
Bullish
Deploying the digital euro on Ethereum or Solana public blockchains could bolster demand and network activity for ETH and SOL tokens. In the short term, speculative trading may increase as investors position for potential partnerships or pilot launches. Over the long term, integration of a major CBDC on these chains would validate public blockchain infrastructure, attract institutional interest, and enhance token utility, supporting sustained price appreciation.